Legal Heirs of Deceased Partner not Liable for any Liability of Firm upon Death of Partner: Supreme Court [Read Judgement]

There was no evidence on record to show that a fresh partnership deed was executed reconstituting the firm in which the present appellants had become partners
Legal Heirs - Deceased Partner - Liable Liability of Firm upon Death of Partner - Supreme Court - taxscan

In a recent decision, the Supreme Court held that the legal heirs of a deceased partner are not responsible for the liabilities of the firm following the partner’s demise. This crucial ruling stemmed from a case under the Consumer Protection Act of 1986, where the complainant sought to recover investments from the legal heirs of…

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